The Economics of Climate Change – a Central Bank Perspective

OeNB Summer School 2020 – Webinar, August 24-27, 2020

At first glance, it might seem unusual for central bank economists to deal with the consequences of climate change. After all, climate economics goes beyond the “medium-term” time horizon of monetary policy and even spans generations. In addition, the area of impact and action cannot be confined within the borders of states or even continents. And yet climate change and the transition to a low-carbon economy already brings short-term risks to the economy and the financial markets. Central banks must learn to understand those better and adapt their behavior accordingly. This course is intended to provide an introductory overview of the research and to offer entry points for the research of economists and financial market experts in central banks. We are happy to have attracted some excellent scientists in the field as lecturers for this undertaking. They also represent different approaches in the diverse research area.